Arthur J. Gallagher & Co. Acquires Tave Risk Management, LLC

Rhea-AI Summary

Arthur J. Gallagher & Co. announced the acquisition of Tave Risk Management, a Chicago-based retail property/casualty broker. Founded in 2000, Tave offers risk management services to various industries. Ruth Tave and her team will continue operating under Gallagher's Midwest branch. Chairman Patrick Gallagher emphasized Tave's expertise in complex risk management. Gallagher, a global insurance brokerage firm, operates in 68 countries and offers services in over 150 global locations.

Positive

• Acquisition of Tave Risk Management enhances Gallagher's expertise in managing complex risks.
• Tave's established client base across multiple industries may lead to revenue growth.
• Retention of Tave's specialized team promotes seamless integration and operational continuity.

Negative

• None.

ROLLING MEADOWS, Ill., Dec. 15, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Chicago-based Tave Risk Management, LLC. Terms of the transaction were not disclosed.

Founded in 2000, Tave Risk Management, LLC is a retail property/casualty broker and risk advisory firm offering a full range of risk placement, loss forecasting, risk management cost allocation and risk financing services to large and mid-sized clients across a range of industries, including manufacturing, construction, financial services, nonprofits, museums and universities, as well as high-net-worth private clients. Ruth Tave and her associates will remain in their current location under the direction of Ryan Isaacs, head of Gallagher's Midwest region retail property/casualty brokerage operations.

"Tave Risk Management brings us a highly specialized team with deep expertise in managing complex, high-profile risks," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am delighted to welcome Ruth and her associates to our growing, global company."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 68 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

Investors:  Ray Iardella	Media:  Linda J. Collins
VP - Investor Relations	VP- Corporate Communications
630-285-3661/ ray_iardella@ajg.com	630-285-4009/ linda_collins@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What is the purpose of Arthur J. Gallagher's acquisition of Tave Risk Management?

The acquisition aims to enhance Gallagher's capabilities in managing complex risks.

When was Tave Risk Management acquired by Arthur J. Gallagher?

The acquisition was announced on December 15, 2021.

How does the acquisition impact AJG's operations?

It expands AJG's expertise in risk management and broadens its client service offerings.

Is the transaction value of the acquisition disclosed?

No, the terms of the transaction were not disclosed.

Who will lead Tave Risk Management after the acquisition?

Ruth Tave and her associates will continue under the direction of Ryan Isaacs.